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Real estate needs a liposuction

Perspective: Much ado about bubbles

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Oh, the real estate bubble. From the front pages of the New York Times to Inman's weekly coverage and a study issued by the Joint Center for Housing Studies at Harvard – the whether we are in one, not in one, heading into one or nowhere near one – is dizzying at best. While the status of a purported bubble flips daily, the more compelling analysis is the "what to do in case of a burst" advice for brokers that drip out of these articles like canned fruit filling – syrupy and full of artificial ingredients. Shouldn't the real story be about what brokers can do to improve their bottom line and competitive edge during this 13-year-marathon-long, gravity-defying boom? Not only would it be more uplifting, but damn it, it's more important! As any savvy businessperson knows, if you wait until a slowdown to fix your problems it's too late. Consider: a) How little it matters if the bubble bursts. Good businesspeople shine in any market; b) If it bursts, it might be the bes...